As society develops, people ' s standard of living gradually rises, and sometimes we face the problem of letters of credit because of the need to borrow money for emergencies, which are small. Can you circumvent the letter of call when seeking small loans? This paper will be analysed from multiple perspectives。

Five thousand small loans without letters

First, we need to understand what letters are. Letters refer to the credit clearance and assessment of borrowers by banks, micro-credit companies and other financial institutions when granting loans and carrying out credit card operations. Letter records include individual loan records, repayments and other credit-related information。

For small loans, risk assessment requirements for borrowers may be relatively low because of the small amount of the borrowing. Thus, in some cases, the lending institution may not require a letter-of-assist audit. In particular, there are sub-lined micro-lending platforms that focus more on the flow of funds to borrowers and the verification of stable income than solely on letter-based records。

Second, online lending services provided by some lending institutions may also be required. These institutions often have their own wind control systems and assessment models that can otherwise assess the credit of borrowers. They may judge the borrower's repayment capacity and credit position by taking into account the borrower's performance, income, fixed assets, etc。

It should be noted, however, that the absence of a letter does not mean that there is no review. Micro-lending institutions still need to verify the identity of the borrower and require the necessary documentation, such as identification of the borrower, proof of work, bank flow, etc. While these requests may be relatively low, there is still a need for some personal information。

Moreover, we cannot ignore the risk that some outlaws may use untrustworthy borrowing needs for fraudulent activities. These individuals may be deceived by very attractive interest and conditions in some informal channels to attract borrowers. Therefore, in choosing small-scale lending, we should be careful in choosing the lending platform and in choosing formal, legal institutions to avoid fraud。

In summary, although there are small lending institutions that do not require the borrower to provide a letter of credit, this does not mean that there is no audit at all. Borrowers still need to provide some of the necessary personal information and information and remain vigilant when choosing the lending platform to prevent fraud by the outlaws。